Golden Bay Cement Company Ltd
Date established
1919
History
In 1909 the Golden Bay Cement Works Ltd was founded by Captain Charles McArthur and Mr John Plimmer. It was decided to build the works at Golden Bay because of the large deposit of suitable limestone adjacent to the sea. Berthage could be built to facilitate transport by ship of the manufactured cement to the North Island market. Portland cement was first manufactured by the company in 1909 with an original plant capacity of 20,000 tons. [1]
In 1919 The Golden Bay Cement Company Ltd purchased the original company with a capital of 25,000 pounds.
In 1951 a controlling interest was negotiated by the Associated Portland Cement Company Ltd of London.
Golden Bay Cement Company Ltd formed The Tarakohe Shipping Company Ltd in 1952 to own and operate a vessel to carry cement in bulk. It was formed with a capital of 200,000 pounds, of which Golden Bay Cement subscribed for 190,000.
In April 1961 the company acquired the share capital of Waitomo Portland Cement Ltd. The Waitomo Works at Te Kuiti ceased production in 1970.
In 1971 in association with Winstone Ltd the company acquired 50% of Wilsons (NZ) Portland Cement Ltd (Winstone Ltd holding the other 50%). Golden Bay Cement Co Ltd became responsible for the management of Wilsons and allowed the integration of the two operations.[2]
On September 1st 1975 K Douglas Ltd Levin, became a wholly owned subsidiary and in December of that year Golden Bay Cement also purchased 20% of Farrier Waimak Ltd.
In October 1980 Wilsons (NZ) Portland Cement Ltd became a subsidiary company and this transactions was completed on the 27th February 1981 with the purchase of the remaining 50% of Wilsons (NZ) Portland Cement Ltd from Winstone Ltd. [2] In 1982 major shareholder Blue Circle Industries PLC purchased the 20 percent shareholding held by Winstone Ltd in the Golden Bay Cement Company. [3] Prior to 1979 Blue Circle Industries Ltd had operated under the name of The Associated Portland Cement Manufacturers Ltd.
In 1987 Winstones Ltd and Fletcher Challenge Ltd were granted authorization by the Commerce Commission to buy up to 100% of the Golden Bay shares. In May Blue Circle Industries Ltd sold its shareholding in The Golden Bay Cement Group to the Winstone Group. In October the Winstone Group sold 50% of its shareholding to Fletcher Challenge Ltd and RJ Baldey was appointed the new Chief Executive. The following year Golden Bay!'s head office was moved from Wellington to Auckland. [4]
In 1919 The Golden Bay Cement Company Ltd purchased the original company with a capital of 25,000 pounds.
In 1951 a controlling interest was negotiated by the Associated Portland Cement Company Ltd of London.
Golden Bay Cement Company Ltd formed The Tarakohe Shipping Company Ltd in 1952 to own and operate a vessel to carry cement in bulk. It was formed with a capital of 200,000 pounds, of which Golden Bay Cement subscribed for 190,000.
In April 1961 the company acquired the share capital of Waitomo Portland Cement Ltd. The Waitomo Works at Te Kuiti ceased production in 1970.
In 1971 in association with Winstone Ltd the company acquired 50% of Wilsons (NZ) Portland Cement Ltd (Winstone Ltd holding the other 50%). Golden Bay Cement Co Ltd became responsible for the management of Wilsons and allowed the integration of the two operations.[2]
On September 1st 1975 K Douglas Ltd Levin, became a wholly owned subsidiary and in December of that year Golden Bay Cement also purchased 20% of Farrier Waimak Ltd.
In October 1980 Wilsons (NZ) Portland Cement Ltd became a subsidiary company and this transactions was completed on the 27th February 1981 with the purchase of the remaining 50% of Wilsons (NZ) Portland Cement Ltd from Winstone Ltd. [2] In 1982 major shareholder Blue Circle Industries PLC purchased the 20 percent shareholding held by Winstone Ltd in the Golden Bay Cement Company. [3] Prior to 1979 Blue Circle Industries Ltd had operated under the name of The Associated Portland Cement Manufacturers Ltd.
In 1987 Winstones Ltd and Fletcher Challenge Ltd were granted authorization by the Commerce Commission to buy up to 100% of the Golden Bay shares. In May Blue Circle Industries Ltd sold its shareholding in The Golden Bay Cement Group to the Winstone Group. In October the Winstone Group sold 50% of its shareholding to Fletcher Challenge Ltd and RJ Baldey was appointed the new Chief Executive. The following year Golden Bay!'s head office was moved from Wellington to Auckland. [4]
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